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158-160 E Blithedale Avenue, Mill Valley, CA 94941, Mill Valley, 94941 - 6 bed, 2 bath

158-160 E Blithedale Avenue, Mill Valley, CA 94941 home-pic-0
ACTIVE$3,000,000/sqft
158-160 E Blithedale Avenue, Mill Valley, CA 94941
6Beds
2Baths
Sqft
4,138.2Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Rare Mixed-Use Investment: This property presents an extremely rare mixed-use opportunity, combining six residential apartments and six office/retail suites, offering a unique and diversified investment in a high-demand market.
Top Cons:
Historic Building Age: Constructed in 1914, the property, despite recent updates, may still present challenges related to older infrastructure, potential for unforeseen capital expenditures, and ongoing modernization requirements.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1914 (112 years old).
Condition: The property, built in 1914, has received updates as noted in the description, including dual-pane windows. However, the residential unit images reveal kitchens with dated appliances, older cabinetry, and tile countertops (blue and terracotta), along with bathrooms featuring a pink tub and older fixtures. While functional and maintained, these elements suggest renovations that are likely 15-30 years old, requiring minor updates to meet current aesthetic standards. The property is not in disrepair but shows clear signs of being outdated in key areas.
Year Built
1914
Close
-
List price
$3M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
325084247
Home ConditionFair
Features
Good View:
Deck
Patio
View-

About this home

158-160 E. Blithedale Avenue is an extremely rare mixed-use opportunity in downtown Mill Valley. The property consists of 12 total unitssix apartments and six office/retail suitesacross three buildings totaling approximately 5,760 SF. With a long history of stable tenancy and a strong mix of residential and commercial uses, this asset combines steady in-place income with significant upside potential through rent growth and modernization. Apartments are tucked away off the street for privacy, while retail and office spaces enjoy excellent street visibility on a high-traffic corridor. The property has been well-maintained with updates to units, dual-pane windows, and modern features. Amenities include covered parking, private decks, in-unit laundry in select apartments, and a communal pergola-shaded picnic area that creates a sense of community. Some units enjoy views of the redwoods and surrounding hillsides. This is a rare chance to own a private-feeling income property in the heart of Mill Valley, combining lifestyle appeal with investment fundamentals.

M
Michael Johnston
Listing Agent
Condition Rating
Fair
The property, built in 1914, has received updates as noted in the description, including dual-pane windows. However, the residential unit images reveal kitchens with dated appliances, older cabinetry, and tile countertops (blue and terracotta), along with bathrooms featuring a pink tub and older fixtures. While functional and maintained, these elements suggest renovations that are likely 15-30 years old, requiring minor updates to meet current aesthetic standards. The property is not in disrepair but shows clear signs of being outdated in key areas.
Pros & Cons

Pros

Rare Mixed-Use Investment: This property presents an extremely rare mixed-use opportunity, combining six residential apartments and six office/retail suites, offering a unique and diversified investment in a high-demand market.
Prime Downtown Location: Strategically located in the heart of downtown Mill Valley, providing excellent street visibility for commercial units and highly desirable lifestyle appeal for residential tenants.
Diversified & Stable Income Stream: With 12 total units and a strong mix of residential and commercial uses, the property boasts a long history of stable tenancy, ensuring a robust and diversified income stream.
Significant Upside Potential: The asset combines steady in-place income with significant upside potential through rent growth and further modernization, promising future value appreciation and increased profitability.
Well-Maintained with Key Amenities: The property has been well-maintained with updates including dual-pane windows and modern features, complemented by amenities such as covered parking, private decks, and in-unit laundry in select apartments.

Cons

Historic Building Age: Constructed in 1914, the property, despite recent updates, may still present challenges related to older infrastructure, potential for unforeseen capital expenditures, and ongoing modernization requirements.
Ambiguous Residential Unit Configuration: The listed 'beds:6, baths:2' for six apartments suggests a potentially low bed/bath ratio or smaller unit sizes, which could limit residential tenant appeal or rental income potential for certain demographics.
Compact Lot Size: With a lot size of 4138.2 sq ft for three buildings and 12 units, the property has a relatively compact footprint, potentially limiting outdoor space, additional parking, or future expansion possibilities.
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